Czech Republic: Economy expands at softer pace in Q3
November 4, 2022
The economy expanded 1.6% in seasonally adjusted year-on-year terms in Q3, following Q2’s 3.7% increase. The war in Ukraine weighed on the economy, affecting supply chains, energy prices and the economic outlook. Meanwhile, output decreased 0.4% on a seasonally adjusted quarter-on-quarter basis in Q3, contrasting the 0.5% rise recorded in Q2.
External demand and capital spending made positive contributions to year-on-year growth in Q3, while consumer spending shrank. A detailed breakdown is scheduled to be released on 2 December.